An overview of the day ahead and objectives for the program.

Panel Session

Over 4 billion people went to the polls last year. Private markets investors were told it was a year of “wait and see”, as deals, fundraising and IPOs were put on ice. Fast forward to 2025 and the US election result has had a similar effect on markets. With so much about America’s new role in the world still unclear, should we accept the world is entering a permanent “wait and see” mode?

• How do you take long-term investment decisions in a relentless state of breaking news?
• Can you embed both conviction and agility in asset allocation and portfolio construction?
• What impact does geopolitics really have - and are private markets really better at trading through the volatility?

Panel Session

2025 was a year when sustainable investing became a political hot potato. In general, asset owners have responded by showing they’re prepared to stay course. The response from managers has been less clear-cut, with some “rebranding” or diluting climate commitments. In the city where symbolic commitments were made to set the world on an unstoppable course to cutting carbon emissions, panelists examine how the current rhetoric has affected investments.

• The path to net zero - is the cat already out the bag?
• What does US policy divergence mean for portfolios, on both sides of the Atlantic?
• How do managers navigate the situation to do what’s right for clients, returns and stay on the right side of history?

Panel Session

It’s three years since rising interest rates marked a new chapter for private markets. This research will examine the returns profile across private asset classes and strategies - and consider the outlook.

Panel Session

Institutional investors seem to have reached some limits in terms of allocation to private equity. Regulated entities have threshold to comply with. Denominator effects have to be handled more proactively when allocations are teetering with limits.

• Is traditional approach still fit-for-purpose?
• Should LPs take a different approach?
• Where does this journey end?

Panel Session

Whilst fund terms are crucial to get right, their standards continue to evolve.

• What is worth prioritising (and what’s not), what are the trends and where should negotiation efforts be focussed?
• Where is the balance of power in the LP-GP relationship currently?
• What points do LPs see a crucial in ensuring alignment? Discuss how negotiations on these points have gone.

Led by: CAIA

As distributions faltered, innovation in the secondaries market has been a saving grace for DPI. The market looks set to grow, driven by paralysed exit markets and growth of continuation vehicles. These sessions consider how LPs should think about the various parts of their liquidity tookit.

Sessions

• Research (30mins): A in-depth presentation looking at the topic. 15mins presentation + 15mins Q&A
• “Our journey” (30mins): An LP shares how they approach the topic, including challenges and success stories that others can learn from. 15mins presentation + 15mins Q&A

Led by: ILPA

Enhancing alignment of interests between GPs and LPs remains a hotly debated topic, with concerns over erosion of fiduciary duty and increasing conflicts of interest frequently cited. These sessions go deeper into how LPs can successfully navigate these discussions to ensure positive manager relationships.

Sessions

• Research (30mins): A in-depth presentation looking at the topic. 15mins presentation + 15mins Q&A
• “Our journey” (30mins): An LP shares how they approach the topic, including challenges and success stories that others can learn from. 15mins presentation + 15mins Q&A

Panel Session

Traditional LPACs offer limited opportunities to consult with other investors in the same fund. In the absence of an official forum, how can LPs build consensus on key issues?

A panel of LPs consider how they could use their bargaining power both individually and as a group.

• Co-invest rights
• Economics and GP commitments
• Recycling practices that benefit LPs

Panel Session

It’s a familiar story. The gap is widening between top-performing GPs and the rest, with key factors like specialisation, scale and fundraising demand frequently quoted as evidence. How significant will the divide become as AUM continues to grow?

Case study

A theoretical scenario is put to the room by the facilitator, with roundtable discussions between participants on what approach they’d take. 15mins presentation + 30mins discussion + 15mins feedback.

Case study

A theoretical scenario is put to the room by the facilitator, with roundtable discussions between participants on what approach they’d take. 15mins presentation + 30mins discussion + 15mins feedback.

Panel Session

Private markets' assets under management have grown at a CAGR of ca. 15% since 2000. The result is an expansion of investment strategies that provide deeper pools of equity and debt capital which may have traditionally come from public markets. In tandem, the industry has embarked on a journey towards more liquid structures, blurring the lines between the traditional 60/40 approach to asset allocation.

• Will private markets replace listed ones as the central place of financial markets and economies?
• Given the increased space taken by private markets in asset allocations, does it still make sense to separate public and private?
• If yes, why? If not, how to integrate these two worlds into a comprehensive asset allocation?

Panel Session

Fund reporting forms the bedrock of an LP’s understanding of how portfolios are performing.

This panel will explore what makes a good quarterly report, how LPs can enhance transparency and get access to data, and whether all LPs should get the same level of detail.

• What makes a good quarterly report?
• Should all LPs get the same level of detail?
• Enhancing transparency & getting access to data. Reducing information asymmetry around operational data
• How to you engage with GPs around quarterly reports?
• What are the key points different LPs look at in their reports?
• Tools for analysis, how have LPs streamlined reviews? In-house vs third party?

Community session

Either research presentation, case study or Selected from speaker submissions.

Community session

Either research presentation, case study or Selected from speaker submissions.

Community session

Either research presentation, case study or Selected from speaker submissions.

Community session

Either research presentation, case study or Selected from speaker submissions.

Panel Session

M&A activity suggests that private capital is an attractive business to be in. Yet traditional asset managers are not the only buyers of in town. Sovereign wealth funds and pension funds have been buying up alternatives specialists. From allocation to direct equity ownership - what’s been their experience and how do you know it’s right for you?

Key takeaways from the day.